|
In the third-quarter GDP grew 1.9 %
GDP, U.S. Economy
The U.S. economy grew at a solid pace during the July-through-September period, led by growth in consumer and government spending.
Gross domestic product increased in third-quarter on the seasonally adjusted basis by 1.9 % to $21,340 billions, an increase from $21,060 billions in the second-quarter, reported by the Commerce Department. Consumer and government spending grew above averge in the third-quarter.
Broad-based economic growth at a solid pace during the third-quarter, raises hopes that, the U.S. economy is on self-sustaining path.
The revised GDP data showed strong gains registered by consumers in spending and income, which were revised higher than in the previous quarter. Salaries and Worker wages grew by 3.35 % quarterly.
U.S. economy advanced by 2.0 % from the same quarter one year ago, . |
Federal spending rose 3.40 %, including an 2.20 % rise in national defense spending. Government spending on national defense accounts for 3.94 % of total nation's output and 22.52 % of total government spending. Spending by government at all levels has climbed by 2.00 %.
The second estimate of GDP incorporates more data from the private sector and provides a more accurate measure of growth than the initial report. The revision is also the first to include data on business earnings.
In the third-quarter real consumer spending was estimated to have increased at a 2.9 % annualized clip, spending has slowed down but it was still major contributor to the U.S. growth, adding 1.9 of a percentage point to GDP growth in the third-quarter, reported by the Commerce Department.
With estimated annual rate of $14,669 billions, seasonally adjusted in the second-quarter, consumer spending accounts for 68.74 % of economic activity.
Spending on U.S. made Goods increased by 4.4 %, where consumption of Durable Goods grew by 7.6 %, driven by higher sales of furniture and household equipment.
Growth in nondurable goods of 1.7 %, as other nondurable goods grew the most, up 1.70 %.
Sevice sector grew more than in previous quarter and faster than gross national product, spending on service increased by 5.5 %, led by 1.36 % increase in transportation. Consumer spending for services accounts for 69.67% of total speding and 47.38% of total GDP.
Final sales, which exclude inventory behavior, were down to a 2.0 % gain in the third-quarter, following a 3.0 % gain in the second-quarter.
• More on U.S. Real Gross Domestic Product
|
|
Contributions
to Percent Change in Real GDP |
|
1.93% |
-0.27% |
0.35% |
0.12% |
|
|
|
|
|
|
|
|
|
|
|
Investments |
|
|
Investments decreased by -1.50 % to $3,741 billions, despite the increase in Gross national product on the seasonally adjusted basis.
Businesses investments dropped by -3.00 %, as comanies cut spending on software, equipment, offices, plants and oder capital expenditure, siting challenging economic climate ahead.
Slower inventory buildup acted as a major drag on growth. The reduction in the buildup in inventories subtracted -0.07 percentage points from GDP growth.
|
|
|
|
Quarters seasonally adjusted
(At annual rates Q / Q, in %) |
III Quarter
2019
rev. |
II Quarter
2019
adv. |
I Quarter
2019
final |
IV Quarter
2018
rev. |
III Quarter
2018
adv. |
II Quarter
2018
final |
| Gross domestic product (GDP) |
|
1.9 % |
2 % |
3.1 % |
2.2 % |
3.4 % |
4.2 % |
|
Personal consumption expenditures |
|
2.9 % |
4.6 % |
0.9 % |
2.5 % |
3.5 % |
3.8 % |
| Goods |
|
4.4 % |
6.5 % |
2.3 % |
2.1 % |
4.6 % |
4 % |
| Durable goods |
|
7.6 % |
13 % |
-2.4 % |
3.6 % |
3.7 % |
8.6 % |
| Nondurable goods |
|
1.7 % |
2.8 % |
1 % |
2.4 % |
3.2 % |
3 % |
| Services
|
|
5.5 % |
8.6 % |
0.7 % |
2.6 % |
4.3 % |
5.5 % |
| |
|
|
|
|
|
|
|
Gross private domestic investment |
|
-1.5 % |
-6.3 % |
6 % |
3.7 % |
15.2 % |
-0.5 % |
| Fixed investment |
|
-1.3 % |
-1.4 % |
3 % |
3.1 % |
1.1 % |
6.4 % |
| Nonresidential |
|
-3 % |
-1 % |
4.4 % |
5.4 % |
2.5 % |
8.7 % |
| Structures |
|
-15.3 % |
-11.1 % |
4.3 % |
-3.9 % |
-3.4 % |
14.5 % |
| Equipment &
software |
|
-3.8 % |
0.8 % |
-1 % |
6.6 % |
3.4 % |
4.6 % |
| Residential |
|
5.1 % |
-3 % |
-2 % |
-4.7 % |
-3.6 % |
-1.3 % |
| Change in private
inventories |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
|
|
|
|
|
|
|
Net exports of goods and services |
|
|
|
|
|
|
| Exports
|
|
0.7 % |
-5.7 % |
5.4 % |
1.8 % |
-4.9 % |
9.3 % |
| Goods |
|
1.6 % |
-5.9 % |
6 % |
1.2 % |
-8.4 % |
13.5 % |
| Services |
|
-0.8 % |
-5.1 % |
4.4 % |
2.7 % |
2.4 % |
1.5 % |
| Imports
|
|
1.2 % |
- % |
-1.9 % |
2 % |
9.3 % |
-0.6 % |
| Goods |
|
0.4 % |
0.1 % |
-3.3 % |
0.5 % |
10.5 % |
-0.4 % |
| Services |
|
4.4 % |
-0.7 % |
4.4 % |
8.6 % |
4.3 % |
-1.4 % |
| |
|
|
|
|
|
|
| Govt. consumption exp.
& gross investment |
|
2 % |
4.8 % |
2.8 % |
-0.4 % |
2.6 % |
2.5 % |
| Federal |
|
3.4 % |
8.3 % |
- % |
1.1 % |
3.5 % |
3.7 % |
| National defense |
|
2.2 % |
3.3 % |
4 % |
6.4 % |
4.9 % |
5.9 % |
| Nondefense |
|
5.2 % |
16.1 % |
-5.8 % |
-6.1 % |
1.6 % |
0.5 % |
| State & local |
|
1.1 % |
2.7 % |
4.6 % |
-1.3 % |
2 % |
1.8 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Final sales of domestic product |
|
2 % |
3 % |
2.6 % |
2.1 % |
1 % |
5.4 % |
| Gross domestic purchases |
|
1.9 % |
2.6 % |
2.1 % |
2.2 % |
5.3 % |
2.8 % |
| Final sales to domestic
purchasers |
|
2 % |
3.6 % |
1.6 % |
2.1 % |
2.9 % |
4 % |
| Gross national product
(GNP) |
|
- % |
2.8 % |
3.2 % |
2.1 % |
3.1 % |
4 % |
| Disposable personal income |
|
2.9 % |
2.4 % |
2 % |
4.3 % |
2.4 % |
2.5 % |
| |
|
|
|
|
|
|
| Current-dollar measures: |
|
|
|
|
|
|
| GDP |
|
3.5 % |
4.5 % |
1.7 % |
3.5 % |
4.9 % |
7.6 % |
| Final sales of domestic product |
|
3.7 % |
5.1 % |
2.7 % |
4 % |
3 % |
4.3 % |
| Gross domestic purchases |
|
3.4 % |
5.8 % |
2.4 % |
3.8 % |
5.3 % |
2.8 % |
| Final sales to domestic purchasers |
|
3.5 % |
5.4 % |
3.8 % |
4 % |
2.9 % |
4 % |
| GNP |
|
- % |
4.8 % |
2.5 % |
5.8 % |
3.1 % |
4 % |
| Disposable personal income |
|
4.5 % |
- % |
- % |
- % |
2.4 % |
2.5 % |
| |
|
|
|
|
|
|
Quarters seasonally adjusted
(Quarterly Y / Y, in %) |
III Quarter
2019
rev. |
II Quarter
2019
adv. |
I Quarter
2019
final |
IV Quarter
2018
rev. |
III Quarter
2018
adv. |
II Quarter
2018
final |
| Gross domestic product (GDP) |
|
2 % |
2.3 % |
3.2 % |
3 % |
3 % |
2.9 % |
|
Personal consumption expenditures |
|
2.5 % |
2.6 % |
2.7 % |
2.6 % |
2.9 % |
2.6 % |
| Goods |
|
3.7 % |
3.5 % |
3.2 % |
2.7 % |
3.2 % |
2.6 % |
| Durable goods |
|
5.4 % |
4.4 % |
3.3 % |
3.4 % |
5.6 % |
6.6 % |
| Nondurable goods |
|
1.7 % |
2.1 % |
2.4 % |
2.4 % |
2.5 % |
2 % |
| Services
|
|
4.3 % |
3.8 % |
3.3 % |
2.9 % |
4 % |
3.9 % |
| |
|
|
|
|
|
|
|
Gross private domestic investment |
|
0.2 % |
3.9 % |
5.9 % |
6.8 % |
6.1 % |
4.6 % |
| Fixed investment |
|
0.8 % |
1.3 % |
3.4 % |
4.6 % |
5.4 % |
5.8 % |
| Nonresidential |
|
1.3 % |
2.6 % |
5.3 % |
7 % |
6.8 % |
7.1 % |
| Structures |
|
-8.1 % |
-4.8 % |
2.6 % |
4.9 % |
6.3 % |
5.7 % |
| Equipment &
software |
|
1 % |
2.7 % |
3.4 % |
5.8 % |
6.6 % |
8.2 % |
| Residential |
|
-1 % |
-3.2 % |
-2.9 % |
-3.3 % |
0.5 % |
1.3 % |
| Change in private
inventories |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
|
|
|
|
|
|
|
Net exports of goods and services |
|
|
|
|
|
|
| Exports
|
|
0.1 % |
-1.7 % |
2.8 % |
2.3 % |
3.5 % |
5.7 % |
| Goods |
|
0.6 % |
-2.1 % |
2.8 % |
2.1 % |
4.4 % |
7.3 % |
| Services |
|
-0.9 % |
-0.7 % |
2.8 % |
2.7 % |
1.8 % |
2.7 % |
| Imports
|
|
0.8 % |
2.6 % |
2.1 % |
3.4 % |
5.8 % |
4.2 % |
| Goods |
|
- % |
2.1 % |
1.7 % |
3.2 % |
6.5 % |
4.5 % |
| Services |
|
4.2 % |
4.7 % |
3.9 % |
4.2 % |
2.6 % |
2.6 % |
| |
|
|
|
|
|
|
| Govt. consumption exp.
& gross investment |
|
2.3 % |
2.3 % |
1.9 % |
1.5 % |
2.2 % |
1.3 % |
| Federal |
|
3.7 % |
3.6 % |
2 % |
2.7 % |
3.5 % |
2.3 % |
| National defense |
|
4.5 % |
4.8 % |
5.3 % |
5 % |
4.2 % |
2.2 % |
| Nondefense |
|
2.5 % |
1.9 % |
-2.5 % |
-0.5 % |
2.4 % |
2.3 % |
| State & local |
|
1.5 % |
1.6 % |
1.8 % |
0.8 % |
1.5 % |
0.8 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Final sales of domestic product |
|
2.1 % |
1.8 % |
2.7 % |
2.6 % |
2.9 % |
3.1 % |
| Gross domestic purchases |
|
2.1 % |
2.8 % |
3.1 % |
3.1 % |
3.3 % |
2.7 % |
| Final sales to domestic
purchasers |
|
2.1 % |
1.8 % |
2.7 % |
2.6 % |
2.9 % |
3.1 % |
| Gross national product
(GNP) |
|
- % |
2.4 % |
3.1 % |
2.9 % |
3 % |
3.1 % |
| Disposable personal income |
|
3.2 % |
3.2 % |
2.4 % |
3.3 % |
2.7 % |
2.9 % |
| |
|
|
|
|
|
|
| Current-dollar measures: |
|
|
|
|
|
|
| GDP |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Final sales of domestic product |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Gross domestic purchases |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Final sales to domestic purchasers |
|
- % |
- % |
- % |
- % |
- % |
- % |
| GNP |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Disposable personal income |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
|
|
|
|
|
|
U.S. Real Gross Domestic Product and Related Measures
GDP, U.S. Economy in Billions of U.S. dollars
Quarters seasonally adjusted
(At annual rates, in Billions of Dollars) |
III Q. 2019
rev. |
II Q. 2019
adv. |
I Q. 2019
final |
IV Q. 2018
rev. |
III Q. 2018
adv. |
II Q. 2018
final |
| Gross domestic product
(GDP) |
|
21,525.8 |
21,340.3 |
21,060.1 |
20,865.1 |
20,658.2 |
18,511.6 |
|
Personal consumption expenditures |
|
14,669.3 |
14,511.2 |
14,238.6 |
14,188.4 |
14,050.5 |
12,842.0 |
| Goods |
|
4,558.8 |
4,507.0 |
4,375.9 |
4,386.6 |
4,371.3 |
4,537.6 |
| Durable
goods |
|
1,547.8 |
1,524.6 |
1,466.2 |
1,476.0 |
1,468.5 |
1,662.3 |
| Motor vehicles & parts |
|
534.4 |
533.1 |
492.2 |
517.2 |
506.2 |
518.6 |
| Furniture & household equipment |
|
359.2 |
352.9 |
335.7 |
332.0 |
334.2 |
381.1 |
| Other |
|
227.5 |
223.8 |
230.0 |
228.9 |
229.8 |
259.4 |
| |
|
|
|
|
|
|
|
| Nondurable goods |
|
3,011.0 |
2,982.4 |
2,909.7 |
2,910.6 |
2,902.8 |
2,886.7 |
| Food off-premises consumption |
|
1,046.1 |
1,030.1 |
1,008.9 |
1,009.9 |
1,007.4 |
965.2 |
| Clothing
& shoes |
|
404.2 |
399.3 |
397.0 |
398.5 |
398.0 |
393.4 |
| Gasoline,
fuel, oil & other energy goods |
|
336.5 |
349.3 |
320.6 |
348.1 |
352.0 |
446.6 |
| Other |
|
1,224.1 |
1,203.6 |
1,183.3 |
1,154.0 |
1,145.3 |
1,069.5 |
| |
|
|
|
|
|
|
|
| Services |
|
10,110.5 |
10,004.2 |
9,862.7 |
9,801.8 |
9,679.1 |
8,329.8 |
| Housing |
|
9,655.8 |
9,558.5 |
9,415.2 |
9,330.0 |
9,232.8 |
7,963.5 |
| Food services |
|
1,028.6 |
1,016.1 |
964.6 |
956.9 |
960.6 |
815.2 |
| Electricity & gas |
|
2,683.5 |
2,655.9 |
2,630.5 |
2,604.3 |
2,571.2 |
2,158.1 |
| Financial services |
|
1,159.5 |
1,149.1 |
1,144.4 |
1,147.2 |
1,128.8 |
852.2 |
| Transportation |
|
483.5 |
477.0 |
463.7 |
463.8 |
453.0 |
422.4 |
| Medical
care |
|
2,485.2 |
2,459.0 |
2,443.4 |
2,403.9 |
2,392.6 |
2,188.9 |
| Recreation |
|
587.4 |
586.1 |
562.6 |
562.7 |
557.7 |
493.4 |
| Other |
|
1,228.2 |
1,215.4 |
1,206.1 |
1,191.2 |
1,169.0 |
1,046.0 |
| |
|
|
|
|
|
|
|
|
Gross private domestic investment |
|
3,741.2 |
3,749.5 |
3,823.3 |
3,766.3 |
3,710.7 |
3,316.7 |
| Fixed investment |
|
3,673.7 |
3,674.7 |
3,701.6 |
3,658.8 |
3,618.0 |
3,322.3 |
| Nonresidential |
|
2,872.9 |
2,890.0 |
2,906.8 |
2,864.8 |
2,819.7 |
2,710.1 |
| Structures |
|
609.7 |
633.2 |
657.4 |
646.0 |
643.3 |
551.7 |
| Equipment & software |
|
1,237.9 |
1,252.9 |
1,260.1 |
1,260.7 |
1,243.0 |
1,264.9 |
| Information processing equipment & software |
|
408.6 |
419.0 |
406.6 |
409.8 |
415.8 |
502.9 |
| Computers & peripheral equipment |
|
93.9 |
92.6 |
86.1 |
85.6 |
84.8 |
79.1 |
| Software |
|
419.4 |
411.4 |
411.1 |
395.6 |
389.0 |
414.2 |
| Other |
|
512.0 |
499.9 |
492.2 |
476.9 |
459.7 |
408.6 |
| Industrial equipment |
|
257.6 |
252.4 |
254.0 |
254.5 |
250.2 |
236.6 |
| Transportation equipment |
|
295.8 |
306.0 |
318.8 |
312.6 |
302.9 |
281.3 |
| Other equipment |
|
275.9 |
275.5 |
280.7 |
283.9 |
274.1 |
257.0 |
| Residential |
|
800.9 |
784.7 |
794.8 |
793.9 |
798.3 |
613.2 |
| |
|
|
|
|
|
|
|
| Change
in private inventories |
|
67.5 |
74.8 |
121.7 |
107.5 |
92.7 |
-36.8 |
| Farm |
|
-7.6 |
-8.2 |
-4.6 |
-4.6 |
-3.5 |
-6.4 |
| Nonfarm |
|
75.1 |
83.0 |
126.3 |
112.1 |
96.2 |
-31.0 |
| |
|
|
|
|
|
|
|
| Net
exports of goods & services |
|
-655.4 |
-662.7 |
-606.7 |
-658.9 |
-653.5 |
-841.0 |
| Exports |
|
2,493.9 |
2,504.0 |
2,552.0 |
2,540.6 |
2,538.6 |
2,574.2 |
| Goods |
|
1,636.2 |
1,646.1 |
1,664.1 |
1,661.6 |
1,668.6 |
1,809.2 |
| Services |
|
857.7 |
858.0 |
887.9 |
879.0 |
870.0 |
769.8 |
| |
|
|
|
|
|
|
|
| Imports |
|
3,149.3 |
3,166.7 |
3,158.6 |
3,199.5 |
3,192.1 |
3,415.2 |
| Goods |
|
2,542.8 |
2,566.1 |
2,548.8 |
2,596.0 |
2,602.4 |
2,870.0 |
| Services |
|
606.6 |
600.6 |
609.8 |
603.5 |
589.7 |
546.1 |
| |
|
|
|
|
|
|
|
| Govt. consumption exp. & investment |
|
3,770.7 |
3,742.3 |
3,604.8 |
3,569.4 |
3,550.5 |
3,171.8 |
| Federal |
|
1,432.0 |
1,415.2 |
1,355.6 |
1,341.9 |
1,329.5 |
1,224.0 |
|
National defense |
|
849.1 |
841.6 |
809.5 |
799.6 |
784.3 |
733.3 |
|
Consumption expenditures |
|
680.0 |
676.9 |
646.6 |
637.6 |
628.6 |
583.7 |
|
Gross investment |
|
169.0 |
164.8 |
162.9 |
162.0 |
155.7 |
149.8 |
|
Nondefense |
|
583.0 |
573.5 |
546.1 |
542.3 |
492.0 |
540.5 |
|
Consumption expenditures |
|
441.5 |
433.6 |
410.5 |
408.5 |
412.7 |
366.4 |
|
Gross investment |
|
141.5 |
139.9 |
135.6 |
133.8 |
132.5 |
123.6 |
| State and local |
|
404.2 |
2,327.1 |
2,249.3 |
2,227.5 |
2,221.0 |
1,946.6 |
| Consumption
expenditures |
|
1,908.8 |
1,897.9 |
1,832.3 |
1,834.8 |
1,822.8 |
1,597.9 |
| Gross
investment |
|
429.9 |
429.2 |
417.0 |
392.8 |
398.2 |
348.7 |
| |
|
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
|
| Final sales of domestic product |
|
21,458.3 |
21,265.5 |
20,938.4 |
20,757.7 |
20,565.5 |
18,515.9 |
| Gross domestic purchases |
|
22,181.2 |
22,002.9 |
21,666.7 |
21,524.1 |
21,311.7 |
19,324.8 |
| Final sales to domestic purchasers |
|
22,113.7 |
21,928.1 |
21,545.1 |
21,416.6 |
21,219.0 |
19,330.8 |
| Gross national product |
|
- |
21,641.3 |
21,319.4 |
21,120.0 |
20,913.3 |
18,766.4 |
| Net domestic product |
|
18,041.0 |
17,893.8 |
17,674.6 |
17,524.5 |
17,360.5 |
15,472.0 |
Annual U.S. Real Gross Domestic Product and Related Measures
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Quarters seasonally adjusted
(At annual rates Q / Q, in %) |
2018
|
2017
|
2016
|
2015
|
2014
|
2013
|
| Gross domestic product (GDP) |
|
2.9 % |
2.2 % |
1.5 % |
2.6 % |
2.4 % |
2.2 % |
|
Personal consumption expenditures |
|
2.6 % |
2.5 % |
2.7 % |
3.2 % |
2.5 % |
2.4 % |
| Goods |
|
2.8 % |
2.1 % |
2.8 % |
2.6 % |
1.8 % |
1.9 % |
| Durable goods |
|
3.7 % |
3.7 % |
3.7 % |
4 % |
6.9 % |
6.7 % |
| Nondurable goods |
|
2.1 % |
2 % |
2.3 % |
2.8 % |
2.1 % |
1.9 % |
| Services
|
|
5.9 % |
4.8 % |
-1.6 % |
5 % |
3.4 % |
3.4 % |
| |
|
|
|
|
|
|
|
Gross private domestic investment |
|
5.5 % |
6.8 % |
5.5 % |
6.9 % |
5.8 % |
4.9 % |
| Fixed investment |
|
6.9 % |
5.3 % |
-0.6 % |
2.1 % |
5.3 % |
4.7 % |
| Nonresidential |
|
5 % |
4.6 % |
-4.1 % |
-4.4 % |
6.3 % |
3 % |
| Structures |
|
7.4 % |
6.1 % |
-3.4 % |
3.5 % |
8.2 % |
-0.5 % |
| Equipment &
software |
|
7.5 % |
4.6 % |
6.3 % |
4.8 % |
6.4 % |
4.6 % |
| Residential |
|
-0.3 % |
3.3 % |
5.5 % |
11.7 % |
4.8 % |
3.4 % |
| Change in private
inventories |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
|
|
|
|
|
|
|
Net exports of goods and services |
|
|
|
|
|
|
| Exports
|
|
4 % |
3 % |
-0.3 % |
0.1 % |
3.2 % |
3 % |
| Goods |
|
4.7 % |
3.3 % |
0.3 % |
-0.6 % |
4 % |
2.8 % |
| Services |
|
2.6 % |
2.5 % |
-1.5 % |
1.6 % |
1.4 % |
3.6 % |
| Imports
|
|
4.5 % |
4.6 % |
1.3 % |
4.6 % |
4 % |
1.1 % |
| Goods |
|
4.8 % |
4.6 % |
0.9 % |
4.9 % |
4.1 % |
0.9 % |
| Services |
|
3.3 % |
4.4 % |
3.1 % |
2.9 % |
3.6 % |
2.2 % |
| |
|
|
|
|
|
|
| Govt. consumption exp.
& gross investment |
|
1.5 % |
-0.1 % |
0.8 % |
1.8 % |
-0.2 % |
-2 % |
| Federal |
|
2.6 % |
0.7 % |
- % |
- % |
-1.9 % |
-5.7 % |
| National defense |
|
3.4 % |
0.7 % |
-0.7 % |
-2.1 % |
-2.1 % |
-6.6 % |
| Nondefense |
|
1.5 % |
0.8 % |
1.2 % |
3.3 % |
-1.5 % |
-4.1 % |
| State & local |
|
0.8 % |
-0.5 % |
1.2 % |
2.9 % |
1 % |
0.5 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Final sales of domestic product |
|
2.7 % |
2.2 % |
1.9 % |
2.4 % |
2.3 % |
2.2 % |
| Gross domestic purchases |
|
3 % |
2.5 % |
1.7 % |
3.2 % |
2.5 % |
1.9 % |
| Final sales to domestic
purchasers |
|
2.9 % |
2.5 % |
2.1 % |
3.1 % |
2.5 % |
1.9 % |
| Gross national product
(GNP) |
|
2.9 % |
2.3 % |
1.4 % |
2.3 % |
2.3 % |
2.2 % |
| Disposable personal income |
|
2.9 % |
2.6 % |
1.4 % |
3.5 % |
2.5 % |
2.2 % |
| |
|
|
|
|
|
|
| Current-dollar measures: |
|
|
|
|
|
|
| GDP |
|
5.2 % |
4.2 % |
2.8 % |
3.7 % |
3.9 % |
- % |
| Final sales of domestic product |
|
5 % |
4.2 % |
2.1 % |
3.6 % |
3.9 % |
3.7 % |
| Gross domestic purchases |
|
5.3 % |
4.2 % |
2.5 % |
3.7 % |
3.9 % |
3.7 % |
| Final sales to domestic purchasers |
|
5.1 % |
4.8 % |
3.5 % |
3.8 % |
3.9 % |
- % |
| GNP |
|
5.2 % |
4.3 % |
2.7 % |
3.4 % |
3.7 % |
3.2 % |
| Disposable personal income |
|
5 % |
4.4 % |
2.6 % |
3.8 % |
3.8 % |
3.7 % |
| |
|
|
|
|
|
|
Annual U.S. GDP
(In Billions of Dollars) |
2018
|
2017
|
2016
|
2015
|
2014
|
2013
|
| Gross domestic product
(GDP) |
|
20,580.2 |
19,390.6 |
18,624.5 |
18,036.6 |
17,418.9 |
16,799.7 |
|
Personal consumption expenditures |
|
13,998.7 |
13,395.5 |
12,820.7 |
12,283.7 |
11,930.3 |
11,501.5 |
| Goods |
|
4,364.8 |
4,295.3 |
4,121.4 |
4,012.1 |
3,968.7 |
3,885.9 |
| Durable
goods |
|
1,475.6 |
1,473.8 |
1,411.0 |
1,355.2 |
1,302.5 |
1,263.0 |
| Motor vehicles & parts |
|
521.5 |
498.2 |
480.8 |
464.8 |
447.8 |
424.5 |
| Furniture & household equipment |
|
341.2 |
338.7 |
325.2 |
305.1 |
287.5 |
285.8 |
| Other |
|
218.3 |
405.8 |
385.5 |
376.6 |
205.5 |
205.0 |
| |
|
|
|
|
|
|
|
| Nondurable goods |
|
2,889.2 |
2,821.5 |
2,710.4 |
2,656.9 |
2,666.2 |
2,622.9 |
| Food off-premises consumption |
|
1,003.4 |
937.7 |
915.1 |
900.7 |
888.6 |
884.0 |
| Clothing
& shoes |
|
391.5 |
400.2 |
393.7 |
379.5 |
365.4 |
362.7 |
| Gasoline,
fuel, oil & other energy goods |
|
349.6 |
304.1 |
273.7 |
303.7 |
398.3 |
408.7 |
| Other |
|
1,144.6 |
1,172.8 |
1,126.1 |
1,076.9 |
1,013.9 |
967.5 |
| |
|
|
|
|
|
|
|
| Services |
|
9,633.9 |
9,100.2 |
8,699.3 |
8,271.6 |
7,961.7 |
7,615.7 |
| Housing |
|
9,190.9 |
8,723.3 |
8,340.4 |
7,943.7 |
7,633.7 |
7,326.2 |
| Food services |
|
973.3 |
878.2 |
849.2 |
808.8 |
755.5 |
736.5 |
| Electricity & gas |
|
2,567.2 |
3,197.2 |
3,022.1 |
2,963.2 |
2,166.0 |
2,082.5 |
| Financial services |
|
1,111.0 |
1,054.6 |
984.7 |
921.1 |
885.1 |
849.2 |
| Transportation |
|
462.2 |
406.6 |
392.5 |
368.4 |
344.9 |
324.3 |
| Medical
care |
|
2,352.6 |
2,259.9 |
2,163.7 |
2,069.0 |
1,997.2 |
1,918.6 |
| Recreation |
|
563.2 |
518.0 |
492.6 |
466.3 |
444.6 |
427.2 |
| Other |
|
1,161.3 |
1,172.8 |
1,126.1 |
1,076.9 |
1,040.4 |
987.9 |
| |
|
|
|
|
|
|
|
|
Gross private domestic investment |
|
3,628.3 |
3,212.8 |
3,057.2 |
3,056.6 |
2,851.6 |
2,670.0 |
| Fixed investment |
|
3,573.6 |
3,197.2 |
3,022.1 |
2,963.2 |
2,769.6 |
2,564.0 |
| Nonresidential |
|
2,786.9 |
2,449.6 |
2,316.3 |
2,311.3 |
2,210.5 |
2,047.1 |
| Structures |
|
633.2 |
560.2 |
516.2 |
507.3 |
506.9 |
456.4 |
| Equipment & software |
|
1,222.6 |
1,098.4 |
1,043.9 |
1,086.1 |
1,017.3 |
939.7 |
| Information processing equipment & software |
|
408.6 |
323.1 |
303.9 |
314.3 |
294.1 |
290.1 |
| Computers & peripheral equipment |
|
89.4 |
79.2 |
73.1 |
78.5 |
75.7 |
77.9 |
| Software |
|
380.0 |
243.9 |
230.8 |
235.8 |
304.9 |
294.4 |
| Other |
|
461.7 |
243.9 |
230.8 |
235.8 |
218.4 |
212.2 |
| Industrial equipment |
|
245.9 |
243.3 |
225.0 |
220.9 |
238.6 |
202.8 |
| Transportation equipment |
|
301.8 |
290.3 |
286.7 |
308.1 |
257.6 |
218.9 |
| Other equipment |
|
266.3 |
241.6 |
228.3 |
242.9 |
227.0 |
227.9 |
| Residential |
|
786.7 |
747.6 |
705.9 |
651.9 |
559.1 |
516.9 |
| |
|
|
|
|
|
|
|
| Change
in private inventories |
|
54.7 |
15.7 |
35.1 |
93.4 |
82.0 |
106.1 |
| Farm |
|
-7.8 |
2.4 |
-0.6 |
-2.0 |
7.9 |
40.4 |
| Nonfarm |
|
62.5 |
13.2 |
35.7 |
95.4 |
74.1 |
65.7 |
| |
|
|
|
|
|
|
|
| Net
exports of goods & services |
|
-638.2 |
-571.6 |
-521.2 |
-522.0 |
-538.2 |
-497.3 |
| Exports |
|
2,510.3 |
2,344.0 |
2,214.6 |
2,264.3 |
2,337.0 |
2,259.9 |
| Goods |
|
1,661.3 |
1,546.8 |
1,446.0 |
1,498.4 |
1,614.7 |
1,567.0 |
| Services |
|
848.9 |
797.1 |
768.5 |
765.9 |
722.2 |
692.9 |
| |
|
|
|
|
|
|
|
| Imports |
|
3,148.5 |
2,915.6 |
2,735.8 |
2,786.3 |
2,875.2 |
2,757.2 |
| Goods |
|
2,570.6 |
2,381.8 |
2,224.2 |
2,291.1 |
2,385.5 |
2,296.0 |
| Services |
|
577.9 |
533.8 |
511.6 |
495.2 |
489.7 |
461.2 |
| |
|
|
|
|
|
|
|
| Govt. consumption exp. & investment |
|
3,591.5 |
3,353.8 |
3,267.8 |
3,218.3 |
3,175.2 |
3,125.5 |
| Federal |
|
1,347.3 |
1,260.7 |
1,231.5 |
1,225.0 |
1,219.2 |
1,245.9 |
|
National defense |
|
793.6 |
744.4 |
728.9 |
732.0 |
761.5 |
770.7 |
|
Consumption expenditures |
|
637.4 |
588.7 |
585.2 |
590.6 |
618.9 |
612.0 |
|
Gross investment |
|
156.2 |
155.7 |
143.7 |
141.3 |
142.6 |
158.7 |
|
Nondefense |
|
540.9 |
516.2 |
502.6 |
493.0 |
457.6 |
475.1 |
|
Consumption expenditures |
|
419.5 |
389.1 |
379.4 |
373.1 |
346.3 |
359.0 |
|
Gross investment |
|
134.2 |
127.2 |
123.3 |
119.9 |
111.3 |
116.1 |
| State and local |
|
2,244.2 |
2,093.2 |
2,036.3 |
1,993.3 |
1,956.1 |
1,879.6 |
| Consumption
expenditures |
|
1,847.4 |
1,754.4 |
1,693.6 |
1,641.2 |
1,620.4 |
1,548.1 |
| Gross
investment |
|
396.8 |
338.8 |
342.7 |
352.2 |
335.7 |
331.5 |
| |
|
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
|
| Final sales of domestic product |
|
20,525.5 |
19,374.9 |
18,589.4 |
17,943.3 |
17,336.9 |
16,693.7 |
| Gross domestic purchases |
|
21,218.4 |
19,962.2 |
19,145.7 |
18,558.6 |
17,957.2 |
17,297.0 |
| Final sales to domestic purchasers |
|
21,163.7 |
19,946.5 |
19,110.6 |
18,465.2 |
17,875.1 |
17,191.0 |
| Gross national product |
|
20,848.1 |
16,592.7 |
15,842.8 |
15,246.9 |
17,630.6 |
17,057.5 |
| Net domestic product |
|
17,288.8 |
19,390.6 |
18,624.5 |
18,036.6 |
14,682.7 |
14,153.2 |
Next U.S. GDP report is expected on February 25, 2121.
|
